SAMA Head Office - Riyadh, Saudi Arabia Saturday - 24 Ramadan 1420H - 1 January 2000 The Saudi Arabian Monetary Agency (SAMA) has announced that all Saudi banks have overcome the Y2K computer-related challenge with complete success. This has been confirmed by His Excellency Governor Mr. Hamad Al-Sayyari, following the presentation of a status report by the Y2K Task Force of SAMA and the Saudi Banks. He re-affirmed that all financial and payment systems in SAMA and the Saudi banks have continued to function in a smooth manner, without any glitches. Mr. Al-Sayyari noted that while contingency plans had been fully developed and were ready for launch, they were not needed. Mr. Al-Sayyari praised the close cooperation between SAMA and the banks, and other concerned national and international organizations. He indicated the Y2K problem had been recognized at a very early stage by the national authorities, and as a result, the National Y2K Committee was formed by a Royal Decree. All Y2K-rollover activities of the banks have now been completed without any disruption. All bank branches in addition to the Saudi payment and settlement systems have continued normal operations. Bank customers did not observe any deterioration in level and quality of service, thus making it a very successful transition. Latest Articles Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. 9 Jun 2024 The Saudi Investment Bank and Saudia’s AlFursan Loyalty Program Unveil Pioneering “Travel Account” In partnership with Saudia’s AlFursan loyalty program, The Saudi Investment Bank (SIB) has introduced the "Travel Account," a... 26 Oct 2023 The Saudi Investment Bank signs an official partnership agreement with Real Madrid CF The Saudi Investment Bank (SIB) announced today its new partnership agreement with Real Madrid CF. This collaboration aims to... 21 Apr 2021 The Saudi Investment Bank: First bank in the Kingdom to adopt Cisco Innovative Technologies Cisco’s innovative network infrastructure enables The Saudi Investment Bank to quickly adapt to changes in business needs while... 2 Feb 2020 Microsoft publishes a customer story on The Saudi Investment Bank’s applications of ‘Microsoft Power BI’ platform Microsoft just published on its official portal a customer story brief about The Saudi Investment Bank applications of Microsoft... 12 Nov 2019 SIB’s Integrated Report 2018 wins the most prestigious global award for annual reports The International ARC Awards have awarded The Saudi Investment Bank’s (SIB) Integrated Report 2018 the Grand Award for the Best of... 7 Jul 2019 The Saudi Investment Bank supports the GCC Board Directors Institute to raise the level of corporate governance and board effectiveness The Saudi Investment Bank has signed a one-year partnership agreement with the GCC Board Directors Institute to support the promotion...